Levitt (2004) demonstrates that, contrary to conventional wisdom, sports books may not try to balance the money wagered on the sides of a game but instead exploit preferences of bettors in order to maximize expected profits. Levitt's findings are based on unique data from a wagering contest of...

We utilize Compustat quarterly data and earnings announcement dates to study how the time from the end of firms' quarters to the announcement of the firm's earnings has varied, on average, during 2005-2015. In addition, we study how the advent of XBRL may have affected the timeliness of firms'...

We propose a generalized, practitioner-oriented operating-leverage model for predicting operating income using net sales, cost of sales, depreciation, and SG&A. Prior research links operating income directly to these items; hence, our model includes all aggregate revenues and expenses that...

This study finds that firm life stage affects investor behavior around earnings announcements. Introduction and decline stage companies exhibit significantly less positive cumulative abnormal returns (CARs) around positive earnings surprises and more negative CARs around negative earnings...